UBS AG Reiterates “Buy” Rating for Rio Tinto plc (RIO)
Rio Tinto plc (LON:RIO)‘s stock had its “buy” rating restated by stock analysts at UBS AG in a report issued on Wednesday, American Banking News reports. They currently have a GBX 4,000 ($66.92) target price on the stock. UBS AG’s target price indicates a potential upside of 21.01% from the company’s current price.
A number of other analysts have also recently weighed in on RIO. Analysts at Citigroup Inc. cut their price target on shares of Rio Tinto plc from GBX 3,950 ($66.09) to GBX 3,850 ($64.41) in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Rio Tinto plc in a research note on Wednesday. They now have a GBX 4,640 ($77.63) price target on the stock. Finally, analysts at Espirito Santo Investment Bank Research reiterated a “sell” rating on shares of Rio Tinto plc in a research note on Tuesday. They now have a GBX 2,960 ($49.52) price target on the stock. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of GBX 3,735.62 ($62.50).
Shares of Rio Tinto plc (LON:RIO) traded up 0.09% on Wednesday, hitting GBX 3305.50. 3,439,249 shares of the company’s stock traded hands. Rio Tinto plc has a 52 week low of GBX 2579.2219 and a 52 week high of GBX 3641.9998. The stock has a 50-day moving average of GBX 3320.09 and a 200-day moving average of GBX 3253.07. The company’s market cap is £61.106 billion.
Rio Tinto plc (LON:RIO) is an international mining company.
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